Lottery operator Ithuba said on Tuesday that Hosken Consolidated Investments will no longer be able to"bully it" now that the casino and hotel company has lost its bid to interdict the company in court.HCI had sought to get an urgent interdict allowing it to access Ithuba’s financial statements over claims involving overpayment of fees to Ithuba’s management company, Zamani.HCI, in its court papers, had argued that Zamani had been paid management fees of 4.
The loan agreement included certain terms that would kick in if the loan were repaid before its full term, including management oversight and a 1% management fee, he said. "I find that since Hosken Consolidated Investments cannot presently exercise its right of management oversight, it has no claim to payment of the 1% fee and no claim upon the management fees that Ithuba is currently paying to Zamani," he said in the judgment.Mabuza said HCI had no leg to stand on after its loss in court and that the licence ran until June 2023.
"The arbitrator's award is very clear. It says they owe us R166m in capital plus interest thereon at agreed rates until the end of the contract. It says we were completely justified in exercising our right of oversight from April 2016 and that Ithuba must pay us the agreed fees for oversight from that date as soon as we have complied with regulatory requirements," he said.
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Gambling group loses court battle against IthubaGambling and hoteling group Hoskens Consolidated Investments (HCI) has lost a court battle it had brought against national lottery operator Ithuba. HCI Invest and HCI Treasury had hauled Ithuba and Zamani Marketing and Management Consultants, among others, to the South Gauteng High Court in an attempt to interdict Ithuba from paying salaries of employees of Ithuba, Zamani or any other entity in the Zamani group. HCI is acting like a bully, and all this silly shenanigans because the money they loaned Ithuba was paid early and with interest and penalties!!
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Gambling group loses court battle against IthubaGambling and hoteling group Hoskens Consolidated Investments (HCI) has lost a court battle it had brought against national lottery operator Ithuba. HCI Invest and HCI Treasury had hauled Ithuba and Zamani Marketing and Management Consultants, among others, to the South Gauteng High Court in an attempt to interdict Ithuba from paying salaries of employees of Ithuba, Zamani or any other entity in the Zamani group. HCI is acting like a bully, and all this silly shenanigans because the money they loaned Ithuba was paid early and with interest and penalties!!
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Source: IOL - 🏆 46. / 51 Read more »
Bid to remove refugees near UNHCR offices in Pretoria delayed yet againA bid by residents, who want the high court in Pretoria to order the removal of refugees from their residential areas, will continue to be heard for a third day on Thursday. This is very sad, say only and ironic at the same time, if the sign is this old it means you have survived this xenophobic murdurus country to this point without dying. You have illegally camped outside the UN office and have not been harrassed or imprisoned But point taken
Source: TimesLIVE - 🏆 28. / 59 Read more »
Bid to remove refugees near UNHCR offices in Pretoria delayed yet againA bid by residents, who want the high court in Pretoria to order the removal of refugees from their residential areas, will continue to be heard for a third day on Thursday.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Helen Zille loses court application against Busisiwe Mkhwebane report on colonialism tweetsThe North Gauteng high court has dismissed an application by former Western Cape premier Helen Zille to have the report by public protector Busisiwe Mkhwebane on her colonialism tweets set aside. Hello OCJ_RSA ConCourtSA our news paper bias propaganda machinery. helenzille Ok let me understand this: She can’t say that apartheid wasn’t all bad but it’s ok to call someone a dog and call on people to slaughter a specific race? The office said? 😂😂😂
Source: TimesLIVE - 🏆 28. / 59 Read more »